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Indonesia Elevator Market by Type (Passenger Elevator, Freight Elevator, and Other Elevators), by Technology (Traction and Hydraulic), by Services (New Installation, Maintenance and Modernization), by Capacity (Less than 1500 KG, 1500 to 2500 KG, 2501 to

Publisher Next Move Strategy Consulting
Published Sep 10, 2025
SKU # NMSC20696198

Description

Indonesia Elevator Market size was valued at USD 990.7 million in 2024 and is predicted to reach USD 1371.8 million by 2030, registering a CAGR of 4.8% from 2025 to 2030.

The rise in urbanization influences the growth of the elevator industry in Indonesia, as more people move to cities, there is an increasing demand for housing and commercial spaces that leads to the construction of high-rise buildings and complex infrastructure. According to the report published by the South East Asia Iron and Steel Institute, Indonesia’s construction sector grew by 4.9% in 2023. This shift towards vertical development creates a need for efficient vertical transportation solutions, such as elevators, to ensure smooth and accessible movement within these buildings. As urbanization accelerates, particularly in major cities such as Jakarta, the demand for elevators in both residential and commercial sectors continue to rise.

Additionally, the growth of the real estate sector fuels demand for elevators, as rising construction activities require modern vertical transportation solutions. For instance, government initiatives, such as the National Strategic Projects (PSN) program, encompass various infrastructure developments, including skyscrapers and urban hubs, supporting economic growth and regional progress. These projects necessitate elevator installations to facilitate seamless vertical mobility within high-rise structures. As large-scale construction efforts expand, the need for elevators continues to rise, contributing to market growth.

However, regulatory and stringent compliance requirements, pose significant barriers to the growth of the elevator market in Indonesia. These regulations often involve prolonged approval processes and strict adherence to safety standards. While crucial for ensuring safety, such requirements lead to delays in project execution, disrupting construction schedules and slowing elevator installations in high-rise buildings and infrastructure projects.

On the contrary, the adoption of advanced technologies, such as IoT and AI, unlocks substantial growth potential for the elevator market in Indonesia. These innovations improve efficiency, safety, and user experience, providing cutting-edge solutions for modern infrastructure. Predictive maintenance systems leveraging IoT, enable real-time monitoring, reducing downtime and lowering repair costs. As an example, in August 2024, Otis Indonesia unveiled the Gen3 connected elevator platform, combining Gen2 elevator technology with the digital connectivity of the Otis One IoT platform. These technological advancements are poised to transform elevator operations, driving future market expansion and supporting the development of smarter, more sustainable urban environments.

Segment Overview

The Indonesia elevator industry is segmented on the basis of type, technology, services, capacity, speed, deck type, designation control, door type, operation, and application.

 By type, the market is divided into passenger elevator, freight elevator, and other elevators.

 By technology, the market is categorized into traction and hydraulic.

 By service, the market is classified into new installation, maintenance and modernization.

 By capacity, the market is segmented into less than 1500 kg, 1500 to 2500 kg, 2501 to 4000 kg, and more than 4000 kg.

 By speed, the market is divided into less than 1 m/s, between 1 to 4 m/s and more than 5 m/s.

 By deck type, the market is categorized into single deck and double deck.

 By designation control, the market is classified into smart and conventional.

 By door type, the market is divided into automatic and manual.

 By operation, the market is classified into low-rise, mid-rise, high-rise.

 By application, the market is characterized into residential, commercial and industrial.

Recent Developments

December 2024

Kone Oyj launched Kone High-Rise MiniSpace DX elevator in South East Asia. The elevator is designed for buildings over 60 floors, emphasizing energy efficiency and advanced technology.

May 2024

Mitsubishi Electric Building Solutions Corporation launched the NEXIEZ-Fit elevator, for low-rise residential buildings, to meet the rising housing demand in Indonesia. This model enhances cost performance and construction efficiency while offering advanced safety features through its connection to the BRIDGE remote maintenance service.

October 2023

TK Elevator launched EOX Renew, a modern elevator system designed to enhance accessibility and sustainability in older buildings. This innovative solution features energy-efficient technology and flexible installation options, making it ideal for retrofitting existing structures while minimizing disruption.

Key Benefits
• The Indonesia elevator market report provides a quantitative analysis of the current market and estimations from 2025 to 2030. This analysis assists in identifying the prevailing market opportunities.
• The study comprises a comprehensive analysis of the trends, including current and future trends for depicting prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the Indonesia elevator market is provided in the report.
• The competitive analysis of the market players along with their market share in the Indonesia elevator market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the role of stakeholders.

Table of Contents

1. Introduction
1.1. Report Description
1.2. Who Should Read This Report
1.3. Key Market Segments
1.4. Research Methodology
1.4.1 Market Size Estimation Methodology
1.4.1.1. Top-down And Bottom-up Approach
1.4.1.2. Demand And Supply-side Analysis
1.4.1.3. Macro-indicator Approach
1.4.2 Data Collection Approach
1.4.2.1. Primary Data Collection
1.4.2.2. Secondary Data Collection
1.4.3 Secondary Data Sources
1.4.4 Forecasting
2. Indonesia Elevator Market By Type
2.1 Overview
2.2 Passenger Elevator Market
2.3 Freight Elevator Market
2.4 Others Market
3. Indonesia Elevator Market By Technology
3.1 Overview
3.2 Traction Market
3.2.1 Machine Room [Mr] Traction
3.2.2 Machine Roomless [Mrl] Traction
3.3 Hydraulic Market
4. Indonesia Elevator Market By Service
4.1 Overview
4.2 New Installation Market
4.3 Maintenance Market
4.4 Modernization Market
5. Indonesia Elevator Market By Capacity
5.1 Overview
5.2 Less Than 1500 Kg Market
5.3 1500 To 2500 Kg Market
5.4 2501 To 4000 Kg Market
5.5 More Than 4000 Kg Market
6. Indonesia Elevator Market By Speed
6.1 Overview
6.2 Less Than 1 M/S Market
6.3 Between 1 To 4 M/S Market
6.4 More Than 5 M/S Market
7. Indonesia Elevator Market By Deck Type
7.1 Overview
7.2 Single Deck Market
7.3 Double Deck Market
8. Indonesia Elevator Market By Designation Control
8.1 Overview
8.2 Smart Market
8.3 Conventional Market
9. Indonesia Elevator Market By Door Type
9.1 Overview
9.2 Automatic Market
9.3 Manual Market
10. Indonesia Elevator Market By Application
10.1 Overview
10.2 Residential Market
10.2.1 Low Rise: 10 Floors
10.2.2 Mid Rise: 11-30 Floors
10.2.3 High Rise: Above 30 Floors
10.2.4 Villa/Home
10.3 Commercial Market
10.3.1 Airport
10.3.2 Hotel And Hospitality
10.3.3 Leisure And Education
10.3.4 Marine And Port Facilities
10.3.5 Medical And Healthcare
10.3.6 Multiuse Buildings
10.3.7 Retail And Shopping Centers
10.3.8 Public Transportation Hubs
10.3.9 Office Buildings
10.3.9.1 Low Rise: 10 Floors
10.3.9.2 Mid Rise: 11-30 Floors
10.3.9.3 High Rise: Above 30 Floors
10.4 Industrial Market
11. Company Profiles
11.1 Schindler
11.1.1 Company Overview
11.1.2 Company Snapshot
11.1.3 Operating Business Segments
11.1.4 Product Portfolio
11.1.5 Business Performance
11.1.6 Business Segments
11.1.7 Geographic Segments
11.1.8 Key Strategic Moves And Development
11.1.9 Primary Market Competitors
11.2 Otis Elevator Company
11.2.1 Company Overview
11.2.2 Company Snapshot
11.2.3 Operating Business Segments
11.2.4 Product Portfolio
11.2.5 Business Performance
11.2.6 Business Segments
11.2.7 Geographic Segments
11.2.8 Key Strategic Moves And Development
11.2.9 Primary Market Competitors
11.3 Tk Elevator (Tke)
11.3.1 Company Overview
11.3.2 Company Snapshot
11.3.3 Operating Business Segments
11.3.4 Product Portfolio
11.3.5 Business Performance
11.3.6 Business Segments
11.3.7 Geographic Segments
11.3.8 Key Strategic Moves And Development
11.3.9 Primary Market Competitors
11.4 Kone Corporation
11.4.1 Company Overview
11.4.2 Company Snapshot
11.4.3 Operating Business Segments
11.4.4 Product Portfolio
11.4.5 Business Performance
11.4.6 Business Segments
11.4.7 Geographic Segments
11.4.8 Key Strategic Moves And Development
11.4.9 Primary Market Competitors
11.5 Fujitec Co., Ltd.
11.5.1 Company Overview
11.5.2 Company Snapshot
11.5.3 Operating Business Segments
11.5.4 Product Portfolio
11.5.5 Business Performance
11.5.6 Business Segments
11.5.7 Geographic Segments
11.5.8 Key Strategic Moves And Development
11.5.9 Primary Market Competitors
11.6 Hyundai Elevator Co., Ltd.
11.6.1 Company Overview
11.6.2 Company Snapshot
11.6.3 Operating Business Segments
11.6.4 Product Portfolio
11.6.5 Business Performance
11.6.6 Business Segments
11.6.7 Geographic Segments
11.6.8 Key Strategic Moves And Development
11.6.9 Primary Market Competitors
11.7 Mitsubishi Electric Corporation
11.7.1 Company Overview
11.7.2 Company Snapshot
11.7.3 Operating Business Segments
11.7.4 Product Portfolio
11.7.5 Business Performance
11.7.6 Business Segments
11.7.7 Geographic Segments
11.7.8 Key Strategic Moves And Development
11.7.9 Primary Market Competitors
11.8 Toshiba Elevator And Building Systems Corporation
11.8.1 Company Overview
11.8.2 Company Snapshot
11.8.3 Operating Business Segments
11.8.4 Product Portfolio
11.8.5 Business Performance
11.8.6 Business Segments
11.8.7 Geographic Segments
11.8.8 Key Strategic Moves And Development
11.8.9 Primary Market Competitors
11.9 Hitachi Ltd.
11.9.1 Company Overview
11.9.2 Company Snapshot
11.9.3 Operating Business Segments
11.9.4 Product Portfolio
11.9.5 Business Performance
11.9.6 Business Segments
11.9.7 Geographic Segments
11.9.8 Key Strategic Moves And Development
11.9.9 Primary Market Competitors
11.10 Ife Elevators
11.10.1 Company Overview
11.10.2 Company Snapshot
11.10.3 Operating Business Segments
11.10.4 Product Portfolio
11.10.5 Business Performance
11.10.6 Business Segments
11.10.7 Geographic Segments
11.10.8 Key Strategic Moves And Development
11.10.9 Primary Market Competitors
11.11 Sicher Elevator Co., Ltd.
11.11.1 Company Overview
11.11.2 Company Snapshot
11.11.3 Operating Business Segments
11.11.4 Product Portfolio
11.11.5 Business Performance
11.11.6 Business Segments
11.11.7 Geographic Segments
11.11.8 Key Strategic Moves And Development
11.11.9 Primary Market Competitors
11.12 Lamda Elevator
11.12.1 Company Overview
11.12.2 Company Snapshot
11.12.3 Operating Business Segments
11.12.4 Product Portfolio
11.12.5 Business Performance
11.12.6 Business Segments
11.12.7 Geographic Segments
11.12.8 Key Strategic Moves And Development
11.12.9 Primary Market Competitors
11.13 Sigma Elevator Company
11.13.1 Company Overview
11.13.2 Company Snapshot
11.13.3 Operating Business Segments
11.13.4 Product Portfolio
11.13.5 Business Performance
11.13.6 Business Segments
11.13.7 Geographic Segments
11.13.8 Key Strategic Moves And Development
11.13.9 Primary Market Competitors
11.14 Canny Elevator Co., Ltd.
11.14.1 Company Overview
11.14.2 Company Snapshot
11.14.3 Operating Business Segments
11.14.4 Product Portfolio
11.14.5 Business Performance
11.14.6 Business Segments
11.14.7 Geographic Segments
11.14.8 Key Strategic Moves And Development
11.14.9 Primary Market Competitors
11.15 Fuji Hengda Elevator Indonesia
11.15.1 Company Overview
11.15.2 Company Snapshot
11.15.3 Operating Business Segments
11.15.4 Product Portfolio
11.15.5 Business Performance
11.15.6 Business Segments
11.15.7 Geographic Segments
11.15.8 Key Strategic Moves And Development
11.15.9 Primary Market Competitors

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